February 21 (SeeNews) - North Macedonia's heating utility Toplifikacija Skopje, which is in bankruptcy proceedings, will auction a 99.98% stake in the local heating supplier Skopje Sever at a discounted price on the Macedonian Stock Exchange (MSE), following two previous unsuccessful attempts, the bourse said on Wednesday.
A total of 77,414 shares in Skopje Sever will be offered for sale at a price of 278 denars ($4.9/4.5 euro) apiece at an auction on February 26, the bourse said.
You can subscribe to our M&A newsletter here
The auction will be held under the all-or-nothing principle.
Toplifikacija failed to sell the majority stake in Skopje Sever at two public auction held on the MSE in 2022 and 2023. In the first auction, the shares were offered at a price of 780 denars each, while in the second, they were offered at 482 denars per share.
(1 euro = 61.64 denars)